AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: KEN HOOVER
After two months of sizzle, the stock market fizzled in December. That put an end to another disappointing year for stock fund investors.
In fact, that was the first time shareholders got socked by three straight declining years for the S&P 500 index. The benchmark goes back to 1957, and Standard & Poor's says it back-tested the bogey's returns through 1953.
For the month, U.S. diversified stock funds lost 4.5% through Dec. 26, according to Lipper Inc. Small did less badly than large by a slight margin, and value did better than growth.
Small-cap value funds did the best, down 2.47%. Large-cap value dropped 4.06%. Small-cap growth dropped 5.53% and large-cap growth fell 5.81%.
For the month, the Dow Jones industrials rose 0.44%. But that was about the only bright spot.
The S&P 500 fell 4.98%. The Nasdaq composite dropped 7.49%